MCU Personal Loans Review
Having unexpected expenses your family budget cannot cover, MCU Personal Loans will serve the best solution.
The company offers numerous options from personal loans, share secured loans and to CD secured loans.
Each loan has specific features and conditions, thus, a customer should learn detailed information about the product before the application.
Personal Loans by MCU: Pros and Cons
Personal loans provide an optimal opportunity to get the necessary sum of money and pay it off within the specified term and at a fixed APR.
Personal loans serve an effective and easy way to obtain money, required for multiple purposes, including:
- Family expenses;
- Home renewal, including furniture, appliances and other goods;
- Debt consolidation, etc.
MCU loan is exclusively advantageous for MCU users, since with the help of auto-pay you will be sure all the payments are made on time and you will not have to pay any fees.
Unsecured personal loans belong to the leading loan types, preferred by the vast majority of customers. No collateral is required for the loan.
Additionally, it provides a client with a chance to get a fixed money sum that should be repaid in a specified period.
Features and Advantages of Personal Loans by MCU
Personal loans by MCU are a beneficial issue for those, who require cash fast and have no other options.
Nevertheless, try to compare the rates, terms and conditions with other financial companies and opt for the best.
Striving to take an unsecured personal loan with MCU you will be able to receive from $1,000 up to $50,000 on your account rather fast.
Your APR will depend on numerous factors, especially the amount of money you need, term and your credit score.
Additionally, the loan has other peculiarities:
- Competitive interest rates and reasonable monthly payments;
- $1,000-$50,000 available for qualified members;
- An opportunity to use borrowed money for numerous purposes;
- Extra cash to cover unpredicted expenses;
- Debt consolidation with lower payments and others.
Popular Article: Signature Loans for People with Bad Credit
Rates, Terms and Other Conditions of MCU Loan
|Maximum Amount Financed||Term||Auto-Pay APR||Monthly Payment per $1,000 Borrowed|
|$1,000 – $15,000||up to 60 Months||5.95%||$19.31|
|$15,001 – $50,000||up to 60 Months||6.95%||$19.78|
|$15,001 – $50,000||up to 72 Months||7.55%||$17.31|
|$15,001 – $50,000||up to 84 Months||7.55%||$15.36|
APR is one of the most important features of any loan. The main advantage of personal loans from MCU is comparatively affordable and beneficial rates.
The amount of money, offered by MCU ranges from $1,000 to $50,000, while the term also varies from 24 months up to 84 months.
Keep in mind that the interest rate is a direct function of the loan term. The monthly payment for each $1,000 borrowed ranges from $15.36 to $19.78.
Check your financial opportunity to pay off the loan before applying for it.
How to Apply and Qualify for Personal Loan
MCU loans are comparatively easy to obtain, since qualification requirements are very few. One of the most essential conditions is to be MCU user and have its account.
If you are not a member of MCU financial company, you can process to the application. Log in to the account, fill in the application form and wait for it to be approved.
Once you get qualified, the money will appear on your account right after the approval.
MCU Loan for People with Bad Credit
People with a bad credit history still have an opportunity to get a personal loan by MCU. However, in such case you should expect higher interest rates.
Secured MCU personal loans are available at lower rates and serve a great way to improve the credit score.